Asked by Duval Demps on May 27, 2024
Verified
Why is the status of an individual performing work very important to QBO Time Tracking?
A) QBO tracks time for employees and does not track time for work performed by subcontractors or owners.
B) The status of an employee refers to full-time or part-time employees.Part-time employees receive a MISC form for their work vs.full-time employees receive a paycheck.
C) The status of an employee determines whether an individual receives a paycheck,a vendor payment or an owner withdrawal for the work they performed.
D) QBO will transfer employee time to sales invoices,however,subcontractors and owners will have to be added to sales invoices manually.
Time Tracking
The process of recording and measuring the amount of time spent on tasks or activities.
Subcontractors
Independent workers or companies hired on a contractual basis to perform part of the work assigned in a project.
- Understand the importance of correctly categorizing individuals performing work to ensure accurate tax reporting and payment recording.
Verified Answer
ZK
Zybrea KnightJun 02, 2024
Final Answer :
C
Explanation :
The status of an employee in QBO Time Tracking determines how they will be paid for the work they performed. This is important for accurate payroll calculations and tracking expenses. It does not affect the ability to track time for subcontractors or owners. The transfer of employee time to sales invoices is a separate feature and does not depend on employee status.
Learning Objectives
- Understand the importance of correctly categorizing individuals performing work to ensure accurate tax reporting and payment recording.